Appert commented, "LOPE continues to generate operating results unmatched by post-secondary industry peers, with robust (slightly better than expected) 2Q growth in all key operating and financial metrics. We think the market underestimates the sustainability of growth at LOPE as well as the potential for a significant inflection in free cash flow over the next several years. We reiterate our Overweight rating and boost our price target to $53."

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